Compliant Practices for Social Media in Financial Services

Agenda •  Driving Business Through

Relationships Using Social •  Compliant Social Media Practices •  Guardian Life Success Story

Sales Navigator:DrivingBusinessThroughRelationships

©2016 LinkedIn Corporation. All Rights Reserved.

Craig Canton Relationship Manager, Financial Services LinkedIn Sales Solutions

Source: Sales Executive Council, featured in CEB’s “Getting in Early: Shaping Demand Through Pre-Funnel Engagement, 2012

Use of social media is #1 factor driving out performance

5.4 75 of B2B buyers now use social media to find information before making a purchase

% 90 of decision makers say they never respond to cold outreach

% people are now involved in the average B2B buying decision

Corporate Executive Board 2013 – Winning The Consensus Purchase Corporate Executive Board 2012 – New Decision Timeline

Harvard Business Review 2012 – Tweet Me, Friend Me, Make Me Buy. Decision makers are C-level

The buying process for major transactions has changed:

Billions of professional relationships

430M+ members

2B+ member updates per week

LinkedIn has a wealth of information on the people & companies with whom you want to build relationships

Today: your personal

network

All that LinkedIn has to offer

YOU

Just what you need for sales

To tap into the power of LinkedIn for sales, you need to expand your access and tailor your experience

Build trust with referral partners and customers

Stay informed on key updates at your target

accounts

Find the right people quickly and easily

Receive recommendations on leads to contact

Access more people at your accounts

Focus on the right people

and companies

Stay up-to-date on the people you’re interested in

Be informed of what’s happening at your accounts

Research prospects wherever you work

Engage with prospects and customers through your company

Build your professional reputation

Reach prospects outside of your network

Sales Navigator is your partner throughout every stage of relationship development

Compliance and Security Considerations

Ray Kruck Co-Founder, Nexgate VP, Marketing and Business Development - Proofpoint Inc.

The Regulatory Landscape

Advisor Considerations

Regulatory and Reputational Risks Faced by Financial Brands

Account Takeover

Detect and stop account hacks when they occur

Acceptable Use

Automatically delete inappropriate content

Fraudulent Accounts

Find and tag all accounts associated with your brand

Compliance Violations Monitor and remediate with

click-to-comply policies including FINRA, FFIEC,

SEC

Malicious Content

Immediately remove malware and phishing threats

New Threat: AnglerPhishing

In this more advanced phish, bad actors impersonate social media customer care accounts or leading brand advocates to steal customer’s social account credentials. For example …

A customer (Charlee) tweets a question to a major bank’s customer care account or to an advisor account (e.g

@AskBank, @AskDaveSmith)

Actual tweet from a customer to a major bank

Imposter Support Accounts, cont’d

A bad actor sees Charlee’s tweet, and quickly intervenes from a imposter account (e.g.

Ask_Bank , or the realDave_Smith) with a link to

a bogus website.

Imposter bank customer care Twitter account that is branded fraudulently using the actual bank’s logo, colors, naming, etc.

Bad Actor Steals Information

Charlee, expecting such a response from her

bank, follows the link and logs in…credentials are

stolen (game over).

The link sent by Imposter Twitter account goes to a fake web page that is also branded fraudulently using the actual bank’s logo, colors, naming, etc.

Addressing These Risks Directly Integrated into Social Networks

Company Accounts &

Employee Accounts

Proofpoint Admin(s)

Proofpoint Stops the

Bad

Security & Compliance is Transparent for Users

Proofpoint Nexgate Suite

•  Automatically find and inventory brand accounts

•  Assess risks from fraudulent accounts and bad comments, posts, @s, messages, and more

•  Detect and stop account hacks and profile non-compliance

•  Automatically remove or hide spam, abuse, and other content risks

•  Automatically detect, remediate, and archive compliance issues

Centralized governance and digital oversight allows us to quickly respond to unexpected events.

Casey Hall, Thomson Reuters

Benefits of Social Media Governance

Positive sentiment Faster response times User engagement Account security Higher productivity

Spam Fraudulent accounts Unauthorized accounts Phishing links Social risk

Nate Issacson Director of Social Media, Guardian Life

About Guardian

u 156 year mutual life insurance company u Based in New York City u 5,300 Home Office Employees u 3,500 Financial Professionals u 80+ General Agency locations in the US u 2,700 Financial Professionals using social media for business u 325+ Financial Professionals using LinkedIn Sales Navigator

Evolution of First Contact

Anticipating a wholesale shift in the way consumers were choosing to engage with insurance firms and

individual advisors, the firm recognized the opportunity to help its advisors evolve their

approach to the market.

Make Friends with Legal/Compliance

Size Doesn’t Matter

325+

2,500+

Evolution of Guardian’s Program

https://www.exchangewire.com/blog/2015/02/17/evolution-atd-means-holding-groups/

Compliance Enablement Engagement Culture 2011 2012 2013 2014 2015 2016

Creating a Social Selling Culture

u  Began using LinkedIn Sales Navigator in 2013

u  300+ Financial Professionals using Sales Navigator

u  Average SSI Score for Guardian Sales Navigator Users = 59

u  Shifting from Individual FPs purchasing to Agency Model

u  Creating local experts through LinkedIn Instructs

Create a professional brand

Find the right people

Engage with insights

Build strong relationships

Social Selling Index 42.3

Before adoption

Today As of 12/2015

14.0

11.0

7.1

22.1

54.2

Only Sales Navigator users

13.8

9.6

5.0

13.9 +28.3% SSI change since

adoption

Training Increased SSI Scores

27

Social Selling Success

u  John increased revenue 80% YoY, 2014 = $222,938 vs. 2015 = $396,000

u  Chuck generated $109k of premium from Sept – Dec 2015 via InMails

u  Sean started 2016 off with a $52k premium case thanks to an InMail

u  Adrian reached 103 members during 1st 30 days on Sales Navigator

Q&A

Thank you!